It’s no surprise that, in times like these, discount retail sales are up and mid-tier retail sales are down. What is surprising is how hard the luxury retail sector is being hit. Typically, luxury retailers remain stable even when the rest of the world is in a slump. Why aren’t the super wealthy spending? Could it be because they are so heavily invested in the ever falling stock market? When the stock market plummets, as we’ve seen over the past weeks, the wealthy start to panic and pull back on spending. This creates a vicious cycle, as reported in this article posted by the AP yesterday. Consumer spending is imperative to the success of the economy and yet, the economy dictates whether or not consumers are spending. There’s no denying it…times are tough. Only the strong will survive. Question is, does anyone have the strength?